PPWE NEWS!!!--> Proper Power Announces Release of the Balance of Independent Study
Sep 29, 2010 7:00:00 AM
TAMPA, Fla., Sept. 29 /PRNewswire/ -- Proper Power & Energy, Inc., (OTC Bulletin Board: PPWE) today released the balance of its commissioned seismic analysis of the Company's Central Utah play. In a prior release, the Company focused on the geological portion of Howard Dunn's opinion letter of the historic seismic data obtained by Proper Power from an independent source.
Dunn's report goes on to opine, "The seismic data under review is located off-trend, approximately 100 – 180 km Northeast of the Covenant field and 50 km west of the principle, Covenant-associated, Navaho play over-thrust trend. However, this project is located within the Sevier Over-thrust Assessment Unit region where from there is an estimated 300 million barrels of undiscovered oil, and 827 million barrels in the Eastern Great Basin Region. The Sevier over-thrust region represents the Western most extension of the intensive Utah over-thrust belt. The Sevier over-thrust region is anticipated to have a fully developed total petroleum system to both generate and capture deeper seated oil. The area, for which the subject seismic data has been acquired, resides within the Sevier over-thrust system and is located within a potentially successful off-trend oil exploration project."
"When we balance the findings offered by the Dunn Report with the data compiled from hydrocarbon migration studies produced from our RadioMetrics Plus (RMP) paradigm, we believe that Mr. Dunn's one billion barrel initial projection probably represents the lower end of the reserve potential in our Rush Valley play," stated Proper Power President, Joseph Abdo. "We will continue to invest in legitimate study to narrow down and reduce the possibility of drilling off-target," concluded Mr. Abdo.
Mr. Dunn is not now, nor ever has been as Officer or Director of Proper Power & Energy, Inc. or any subsidiary thereof. He has never been an insider or shareholder of the Company. The Company plans to release the balance of Mr. Dunn's independent report at a future date.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
Contact Information
Corporate: Nicole Propp
Nicole@properpower.com
Investor Contact: Daniel Conway
DC Consulting, LLC
(407) 792-3332
investorinfo@dcconsultingllc.com
SOURCE Proper Power & Energy, Inc.
